Widespread Fraud in Chinese Accounting?

From CNBC & Forbes:

An investigation that found a preliminary $314 million of accounting fraud at money-losing Chinese coffee chain Luckin Coffee triggered a 76% collapse of its Nasdaq-traded shares yesterday,  wiped out of billions of dollars of shareholder wealth,  and pushed chairman Charles Zhengyao Lu out of the ranks the world’s billionaire ranks.

For the complete story and all the others on this blog, visit Amazon and search for “Tales From The Trenches,” available after August 31st, 2020.



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This entry was posted on May 21, 2020 and is filed under Fraud and Embezzlement. Written by: . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.